About Figopara – Standing by Commercial Businesses!

Get to know us more closely

We are a financial technology company that digitizes financial processes between commercial businesses and banks.

Who Are We?

Founded in 2016 to help commercial companies convert their receivables into instant cash, Figopara counts among its investors Turkey's leading conglomerates such as Eczacıbaşı and Sabancı, as well as established financial institutions like İş Bankası, World Bank, and Fibabanka. Figopara is a financial technology company that facilitates faster and easier financial processes between buyers, suppliers, and banks.

Our Mission

To solve the cash flow problems arising from maturity mismatches between collections and payments of commercial businesses through technology and innovation, enabling the growth of trade in Turkey and ensuring that all commercial businesses, regardless of their size, can access the financing they need to achieve their goals.

Our Vision

To become a finance application where commercial businesses can view all their cash flow movements and current financial data with forward-looking predictions, by completing our open banking, payment, and factoring licenses.

442%

Annual Revenue Growth ($)

$23.7M

Total Funding

$1.2 Billion+

Financing Volume

Our Founders

Koray Gültekin Bahar

Chief Executive Officer

Koray Gültekin Bahar graduated from the Computer Engineering Department of Eastern Mediterranean University and started working as a software developer at FIT Solutions, where he founded Dotto. After working on Microsoft platforms and mobile applications, he became a partner at FIT Solutions in 2013. While serving as General Manager and Partner of Foriba, he managed the acquisition process by Sovos in 2019. After the sale of Foriba, he served as VP of EMEA Strategy at Sovos. He left Sovos in early 2020 to focus on Figopara, where he currently serves as CEO.

Arman Eker

Chief Technology Officer

Arman Eker, a Computer Engineering graduate from Eastern Mediterranean University, started his career at FIT Solutions as a SAP Process Integration Technology Consultant, developing numerous integration projects after obtaining his SAP Process Integration certification. He became Product Manager at Dotto Bilişim in 2012 and co-founded TIMETE Bilişim in 2013. He worked as General Manager at Trendbox Cloud Computing in 2014. Since 2016, he has been developing new technologies as co-founder and CTO of Figopara, while also producing content on entrepreneurship and technology through his www.yollarda.tv channel.

Figopara milestones

We have been working to facilitate access to financing for commercial businesses since 2016.

Figopara was founded.
$1M seed investment received.
2016
$4.6M pre-Series A investment round completed.
FigoScore™ integration with e-Invoice service providers was completed.
2020
AI-powered risk assessment program FigoScore™ was launched.
2021
$11M Series A investment round completed.
2022
Integration with 25+ banks completed.
Reached 10,000 SMEs.
2023
Tekcep and Tekpos acquired from İş Bankası.
2024